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Illinois leasing agent practice exam|50 Questions and Answers 2024
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Illinois leasing agent practice exam|50Questions and Answers 2024
1. The lease contract stated that the renters would bring in the security
deposit within five days. It is now the sixth day and the renters have not
brought in the money. This is legally referred to as: - -Breach
-2. In dealing with the public, a licensee: - -may keep silent about a material
fact concerning the property if the client is the owner. d) may negotiate
different commissions with different owners.
-3. Escrow monies: - -could include security deposits as well as earnest
money.
-4. An offer may be terminated: - -if it is rejected; if it is changed; or if it is
revoked before acceptance.
-A property management company runs a complex of several buildings, all
belonging to the same owner and on the same parcel of land. At the owner's
request, the manager has made apartments available to families with
children in just two of the buildings. This practice is: - -Steering
-6. In a lease an owner may hold a future interest in the property known as:
- -Reversion are interest
-7. Which of the following would be considered a dual agency? - -A licensee
is representing both landlord and tenant in the same transaction.
-8. To be enforced, the Statute of Frauds requires that all contracts for the
sale or lease of real estate be: - -In writing
-9. A young couple with a toddler and an infant want to lease an apartment
in a complex that is occupied primarily by adults. The rental agent shows the
couple apartments only on the first floor. Which of the following is true? - -
The rental agent should have inquired about the couple's preference for
apartments.
-10. On Tuesday, the agent received an offer and a check for security
deposit from a renter. The owner accepted and signed the lease at 11 am on
Wednesday. The agent must: - -deposit the money in his escrow account by
the close of business on Thursday.
-11. The primary requirement of a contract would be: - -Offer and
acceptance
, -12. Because of the complexity of laws that affect real estate today, a
property manager should be familiar with all of the following EXCEPT: - -the
"Blue-Sky" laws.
-13. If a complaint goes to the federal courts based on the Civil Rights Act of
1866, the complaint would be that there was discrimination based on: - -
Race
-14. When a tenant, who has a written lease with the owner, sublets all or
any part of the premises: - -the original lease is unaffected unless it contains
a provision that prohibits such subletting.
-15. Which of the following people may discriminate on the basis of race? - -
No one
-16. It would be a violation of the antitrust laws for a broker to: a) charge
one owner 7% while charging another 6%. - -agree to a minimum
commission with other brokers
-17. The building leases prohibit tenants from altering the property in any
way. One tenant is now confined to a wheelchair, and cannot maneuver over
the doorstep into the apartment by herself. Nor can she use the bathroom
facilities in her wheelchair. Which of the following is true? - -The tenant is
entitled to make the necessary alterations.
-18. Which of the following is illegal? - -Refusing to hire an otherwise
qualified person because a disability will necessitate occasional time off
work.
-19. The amount of security deposit in a contract for the lease of real
property is determined by: - -Agreement of the parties.
-20. Broker Doug has an office in Chicago. A licensee with Broker Doug is
the designated agent of the owner. Another licensee with Broker Doug is the
designated agent of the renter. Which of the following statements is true? - -
In Illinois, this situation avoids dual agency for the broker.
-21. A licensed agent selling or leasing his own home without using his
broker's services may discriminate on the basis of: - -Non of the above
-22. A woman advertises a 2-bedroom apartment for rent in her 6-unit
building in Chicago, stipulating "Adults Only." She is in violation of: - -the
Illinois Human Rights Act.
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